Changing horses: Key features of the incorporation and disincorporation reliefs in TCGA 1992

Capital gains tax incorporation relief, “rollover relief on transfer of business”, has been around for a long time. In contrast, disincorporation relief was enacted only last year, when the government estimated that around 610,000 companies, about 40% of those in the UK, would be eligible for relief against corporation tax on chargeable gains.In each case, … Continue reading Changing horses: Key features of the incorporation and disincorporation reliefs in TCGA 1992

HMRC unmoved by child benefit charge complaints

HMRC has dismissed claims that letters sent to child benefit recipients inviting them to consider whether they should pay the high income child benefit charge (HICBC) are “causing trouble”. A spokesman said the letters can be “simply disregarded” where the charge has been paid, but the ICAEW Tax Faculty has claimed that the letters are … Continue reading HMRC unmoved by child benefit charge complaints